Banks is a new men’s brand created by surf industry veterans Tim Cochran, formerly a product director at Hurley Australia; Masahiro Shibahara, who owns the Tokyo distribution company, Jamgle Jam; and former professional surfer Brad Gerlach.
I spoke with Tim about the brand, how he and his partners plan to break into the crowded action sports market, and how having partners from three different parts of the globe will allows Banks to reach different markets right from the start.
What was the impetus behind Banks?
Tim Cochran: Our mission is simple. To merge style and understated functionality with a sustainable approach to design and development. We saw an opportunity in the market and therefore wanted to create an offering for the 25 to 40-year-old male who has grown up with surf brands and is now looking for a brand that has matured with him.
We all grew up surfing, but wanted products that were less branded, better quality, made with better fabrics and more understated, so that’s what we are creating. We are also approaching product in more sustainable way, and each year we will look at decreasing our carbon footprint.
We’ll also design product with function, but again, we are not going to be screaming about some technical story to every pair of shorts. Boardshorts will have stretch and be eco-friendly and have modern functions. This is our point of difference along with the target market we aim towards.
Why now?
Tim: From our perspective, we believe the time is perfect right now. There is a shift in the market and people are looking for something new and authentic. Plus, everyone is making clothes for younger guys and we are focusing on the guys who grew up surfing, but are influenced by other passions like photography, music, architecture, and travel. They are comfortable with paying a little more for a more premium product and are conscious about the environment.
What are your backgrounds in the surf industry?
Tim: Brad Gerlach is recognized as one of the most stylish surfers in the world. He is a former world-ranked surfer, won the Billabong XXL in 2005 and coaches some of the world’s best upcoming talents.
Tim Cochran grew up surfing around Byron Bay, Australia, and began his career sweeping shaping bays at Town & Country Surfboards in the early 90s.
I used to compete in pro junior events but had a knee injury so I started working at Rip Curl then Risen then Hurley, and I was there for the last six-and-a-half years as Director of Product for Hurley Australasia.
Masahiro Shibahara is a keen surfer from Chiba, Japan and is the founder of a successful distribution company in Tokyo called Jamgle Jam.They distribute brands like Roial, Afends, Epokhe, Mowgli Surf, and Mr. Simple.
See Page 2 for plans in launching Banks
Where is the Banks HQ and how does it work since all three partners come from different parts of the globe? Also, who is financing it all?
Tim: We are set up in the U.S., Japan and Australia. The company is funded by Masa who runs Jamgle Jam in Tokyo. They have about 10 to 15 employees in their Tokyo office from production to sales.
In the U.S. we have a brand manager, and we signed on sales agents in California and Hawaii, and we are in negotiations with a few more people. We also have sales reps in Australia and Japan. I work as the brand’s global director, so I steer the ship across all platforms from production to sourcing to marketing, but I work on production and sourcing with our office at Jamgle Jam. I have an art director who works with me in Australia. Our CFO and legal team are in California. Brad Gerlach connects the dots and is involved a bit in all product aspects.
We have about 25 people globally helping out including all the sales support teams. It’s unique in strategy, but in some regards, it’s a benefit as well because most big brands work at global level and that’s how we are starting.
Where and when is the brand launching?
Tim: Our phase one is to focus on the U.S., Japan and Australia. Banks will be launching in the U.S. and Japan this May and Australia this coming October.
What stores have bought into the line so far?
Tim: Beams, United Arrows, Thalia Street Surf Shop, and American Rag to name a few.
What categories will you carry and what price points are you trying to hit in the U.S.?
Tim: Boardshorts $50-$60
Walkshorts $60-$70
Tee shirts $30-$50
Woven shirts $50-$60
Headwear $50-$60
Bag $129
Can you tell me a bit about the logo?
Tim: We hired a good designer and wanted something clean and simple that we can use. We wanted a logo or “flag,” rather than being font driven, and the flag is a symbol of regeneration and constant movement because it is constantly in flow.
